Our Top Blogs on Collection and Recovery Solutions for 2017
Posted by Perry de Jager
December 19, 2017
As we mentioned in our previous posts where we compiled lists of our top 2017 blogs, we are switching it up this year. Instead of compiling our usual list of Top 10 blog posts on data analytics, we are instead giving you a shorter, but more focussed top blogs selection– and not just one, but five of them! Our data suggested that our most popular blogs were very clearly grouped in broad categories, and we’ve decided to give you the best Principa blogs of 2017, by topic.
Credit lenders use data analytics to assess potential clients and determine affordability. However, many credit lenders and debt collection companies fail to apply the same practice when dealing with defaulting clients. In this post, I'll cover the important role that data analytics can play in collections operations.
In my practice area of Collections & Recovery, negotiation is a critical tactic used in every engagement with a debtor. In fact, it’s so critical and core to the success of a Collections organisation that it merits a discussion with the ultimate negotiator to see if there are tips and techniques that can be learned and applied in Collections. In this blog post, I’ll outline some of the key techniques learned in negotiation from a hostage negotiator and how they can be applied to achieve significant lift in your debt collection outcomes.
We are currently at that time of the year when planning for 2018 takes centre stage. As such it is important to look back and asses the channels that have been used across contact centres and determine their effectiveness. At the same time, it is important to look ahead at the trends and customer behaviour which can help lead to better customer interactions and satisfaction.
While looking for a new solution to support operations, customer centres looking to lead the charge should select a system that is flexible enough to accommodate both traditional and new channels to create a truly multichannel contact centre environment. What does this mean for improving collections in an environment that seems to be deteriorating more and more?
That’s it for our Collections and Recoveries Top Blogs of 2017. If you’re looking to reduce training requirements and agent turnover, while improving outcomes, click below to find out more about AgentX. AgentX is a coaching bot that brings together Artificial Intelligence, Machine Learning, gamification and human behavioural science to not only guide and support agents during calls but to motivate and inspire high performance via an engaging, dynamic and intuitive interface.
About the Author, Perry de Jager
Perry has been involved in Collections and Recoveries for the past 12 years, spending time in different market segments ranging from law firms to investment companies. At Principa, Perry has worked on extended projects within both South Africa and the Middle East with some of the largest financial organisation, providing on-site consulting within the collections and recoveries space covering strategy, process, people and technology.